In short, a preliminary title report sets forth the conditions under which a title insurance company will issue a title insurance policy. Why is a Preliminary Title Report Needed?Ī preliminary title report is the basis for the issuance of a title binder or title commitment. In most jurisdictions a title search which covers the history of the property for the 35 to 50 year period from the date the current owner acquired title to the property is considered a full title search. A preliminary title report does not require an exhaustive search of the property records. The information in a preliminary title report, also known as a title search, is gathered from the property records in the county where the property is located. A preliminary title sets forth various details about a piece of real estate, including: At the heart of most real estate transactions is the preliminary title report.
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